Procyon Advisors LLC Cuts Stake in Novartis AG (NYSE:NVS)

Procyon Advisors LLC trimmed its stake in Novartis AG (NYSE:NVS) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,653 shares of the company’s stock after selling 220 shares during the quarter. Procyon Advisors LLC’s holdings in Novartis were worth $2,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Steigerwald Gordon & Koch Inc. lifted its stake in Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after purchasing an additional 95 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Novartis by 1.7% during the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after purchasing an additional 98 shares during the period. FLC Capital Advisors raised its holdings in shares of Novartis by 4.4% during the third quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock worth $272,000 after purchasing an additional 100 shares during the period. Clear Harbor Asset Management LLC lifted its position in shares of Novartis by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after buying an additional 100 shares during the last quarter. Finally, Allen Wealth Management LLC boosted its holdings in shares of Novartis by 1.8% in the 3rd quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

NVS has been the topic of several research reports. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets increased their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Stock Performance

Shares of NYSE NVS opened at $97.51 on Friday. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a market cap of $199.30 billion, a PE ratio of 11.32, a P/E/G ratio of 1.36 and a beta of 0.57. The stock has a 50 day simple moving average of $100.61 and a 200-day simple moving average of $108.98. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the business earned $1.74 EPS. On average, equities research analysts forecast that Novartis AG will post 7.63 EPS for the current year.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.